Colquhoun International purchases a warehouse for $321,000. The best estimate of the salvage value at the time of purchase was $16,000, and it is expected to be used for twenty-five years. Colquhoun uses the straight-line depreciation method for all warehouse buildings. After four years of recording depreciation, Colquhoun determines that the warehouse will be useful for only another fifteen years. A. Calculate annual depreciation expense for the first four years.   B. Determine the depreciation expense for the final fifteen years of the asset’s life.     When revising deprecation schedules, the book value is used as the adjusting base to apply the new changes to when determine the revised yearly depreciation amount. C. Prepare the journal entry for year five. If an amount box does not require an entry, leave it blank.   Depreciation Expense  fill in the blank 0aebd6fb4003f89_2 fill in the blank 0aebd6fb4003f89_3   Accumulated Depreciation-Warehouse  fill in the blank 0aebd6fb4003f89_5 fill in the blank 0aebd6fb4003f89_6

Budget Hardware Consultants purchased a building for $458,000and depreciated it on a​ straight-line basis over a 30​-year period. The estimated residual value is $98,000. After using the building for 15​ years, Budget realized that wear and tear on the building would wear it out before 30 years and that the estimated residual value should be $88,000. Starting with the 16th​ year, Budget began depreciating the building over a revised total life of 20 years using the new residual value. Journalize depreciation expense on the building for years 15 and 16. ​(Record debits​ first, then credits. Select the explanation on the last line of the journal entry table. Check your spelling carefully and do not​ abbreviate.)   Begin by journalizing the depreciation on the building for year 15.   ​Now, journalize the depreciation on the building for year 16.

White Mountain Supply Company purchases warehouse shelving for $18,500. Shipping charges were $370, and assembly and setup amounted to $575. The shelves are expected to last for 9 years and have a scrap value of $700. Use the straight-line method of depreciation to answer the questions. (Round your answers to the nearest cent.) (a) What is the annual depreciation expense (in $) of the shelving?   (b) What is the accumulated depreciation (in $) after the third year?   (c) What is the book value of the shelving (in $) after the fifth year?

Colquhoun International purchases a warehouse for $301,000. The best estimate of the salvage value at the time of purchase was $16,000, and it is expected to be us for twenty-five years. Colquhoun uses the straight-line depreciation method for all warehouse buildings. After four years of recording depreciation, Colquhoun determir that the warehouse will be useful for only another fifteen years. A. Calculate annual depreciation expense for the first four years. $ 171,000 B. Determine the depreciation expense for the final fifteen years of the asset's life. 11,400 X Feedback V Check My Work When revising deprecation schedules, the book value is used as the adjusting base to apply the new changes to when determine the revised yearly depreciation amount. C. Prepare the journal entry for year five. If an amount box does not require an entry, leave it blank. Depreciation Expense 171,000 X Accumulated Depreciation-Warehouse 171,000